First Independent Mena Newspaper
Morocco’s spending on social assistance would amount to $9 billion, representing some 8% of the country’s GDP, minister in charge of the Budget Fouzi Lekjaa said. Lekjaa was speaking before MPs explaining the logic behind cutting cooking gas prices, which come after a series of measures aiming to boost purchasing power of poor and middle-class […]
Following targeted cash-handouts to needy households, Morocco has cut by 10 dirhams the subsidized price of a cooking gas cylinder, in a move that will alleviate the subsidies burden. The decision- that entered into force on May 20- marks the first subsidies cut in a gradual process that aims at breaking away with general subsidies. […]
Southern African countries hit by extreme El Nino weather phenomenon made an appeal for $5.5 billion to assist some 61 million affected people. The call was made by the Southern African Development Community, which brings together 16 members. Some countries in the region such as Zambia, Zimbabwe and Malawi saw their crops sapped by extreme […]
Morocco and the World Bank (WB) signed in Rabat Monday the Rapid Response Option (RRO) agreement, a significant step in enhancing the Kingdom’s capacity to swiftly address emergencies and provide crucial support to its citizens. The agreement was signed by Minister of Economy and Finance, Nadia Fettah, and WB Country Director for the Maghreb and […]
The European Bank for Reconstruction and Development (EBRD) expects Morocco’s economic growth to reach 3 per cent in 2024, before rising to 3.6 per cent in 2025, supported by a recovery in external demand and government investment. Following a slowdown in 2022, the country GDP growth picked up to 3.2 % in 2023, driven by […]
The Africa Fertilizer and Soil Health summit held in Kenya’s capital Nairobi has recently closed with a 10-year action plan, as the African Union (AU) has said a $15 billion private sector investment is needed to increase manufacturing of mineral fertilizers in Africa. The Africa Fertilizer and Soil Health summit that took place last week […]
The United States is supporting Morocco’s efforts to prevent and combat human trafficking with a $2.5 Million donation aimed at reinforcing the detection, identification, protection, return and rehabilitation of victims of this serious crime. The announcement was made Friday by U.S. Ambassador to Morocco Puneet Talwar in presence of Director of Moroccan National Commission for […]
The Bayt Mal Al Quds Asharif Agency signed, on Friday in Rabat, a partnership and cooperation agreement with the Moroccan Association for the support of reconstruction in Palestine, providing for the launch of a series of reconstruction and rehabilitation projects in the Holy City of Al Quds. The reconstruction and rehabilitation operation, concerning 100 targeted […]
Bank Al Maghrib, Morocco’s central Bank has teamed up with the World Bank to promote the use of digital money transfer services for the benefit of the inhabitants in rural zones. The two financial institutions have launched the «Douar Tour» initiative which seeks to inform rural populations about the various financial services available for money […]
Algeria’s President Tebboune has received a boon from Nigeria whose GDP shrunk to become the fourth largest African economy, ceding the third place to Algeria. In what many observers see as an early electoral campaign, Tebboune gave half-economic truths as usual boasting that Algeria became the third largest African economy, thanks to his policies! In […]